Business Management
Business Management
Consultancy report:
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Table of Contents
Introduction.....................................................................................................3
Background......................................................................................................3
Areas of Concern.............................................................................................5
Alternative practices........................................................................................6
Waste Prevention..........................................................................................6
Waste Minimization.......................................................................................6
Biological Treatment.....................................................................................8
Incineration...................................................................................................9
Landfill Disposal............................................................................................9
Recommendations......................................................................................10
Conclusion..................................................................................................10
References.....................................................................................................11
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Introduction
The global community is heavily influenced by the field of chemistry and the
substances it produces. However, urgent measures must be implemented to
save the European chemical industry, which plays a vital role in the
economic prosperity of the European Union, from impending destruction.
INEOS is a newly established European company headquartered in Rolle,
Switzerland. The company is privately owned and headquartered in
Lyndhurst, Hampshire, United Kingdom. Based on sales volume, it is among
the top ten firms in the chemical manufacturing industry. Jim Ratcliffe, the
firm's creator, is also the chairman and owns 60% of the company's shares.
Andy Currie, John Reece, and Jim Dawson are significant individuals (Anon,
2015). The company mainly emphasizes manufacturing various chemicals,
polymers, and petrochemicals. The items are distributed throughout several
industries, including construction, food, packaging, lubricants, and fuel.
Additional markets include pharmaceuticals, the sports industry goods and
durables, textiles, and agrochemicals (Anon, 2015). The company specializes
in generating sustainable energy from waste materials and is at the forefront
of the renewable energy industry. Its primary competitors are products
imported from China, America, and the Middle East (Anon, 2014a). in terms
of sustainability demands, INEOS is dedicated to decreasing its greenhouse
gas emissions in alignment with the Paris Agreement. The firm has
implemented a comprehensive greenhouse gas management system to
achieve a net zero emissions target by 2050.
Background
These chemical plants release a lot of greenhouse gases which pollute the
air. Moreover, plants also release harmful waste into water streams which
cause may harm the animals by causing imbalance in the ecosystem.
Sustainable business is therefore the best way to ensure that businesses
operate without disrupting the surrounding environment in a negative way.
Consumers are now leaning onto products that are environmentally friendly
due to the awareness that has been promoted by environmental activists.
There are some reports that most of the companies that have proper
sustainability practices have been getting increases in sale and revenue.
There are very many approaches that can be adopted by chemical plants to
implement proper sustainable practices. They should be designed in a way
that it agrees with the existing regulations in the specified sector.
Golly of PWC states that companies that actively engage in discussions about
sustainability and the chemicals industry and develop solutions for these
challenges have a distinct advantage (Yıldız, 2020). Instead of simply
reacting to changes to protect their operating ability, they can actively
exploit growth opportunities.
Areas of Concern
Just like any other chemical plant today INEOS is facing major challenges in
aligning its operations with sustainable practice regulation set by UK
government. Chemical plants often release a lot of waste materials that are
not environmentally friendly. This usually makes it very difficult to do
production in large number.
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Emissions are the greatest threat to climate. There are reports that climate
change is becoming an issue due to emission which cause imbalance in the
atmosphere. Zero emission future is the goal and INEOS still have a long way
to go given there is so much emissions still being produced by the company
regardless of the efforts to reduce it.
INEOS has not yet established a stable product lifecycle where there is s
specific source and a recycling process (Snyder et al.,2021). It is more into
removing waste and starting over the process again. This promotes dumping
which is not environmentally friendly given they are harmful chemical waste.
When dealing with chemicals and fossil fuels it is difficult to work within the
regulations of the state given it is expensive to implement other models and
sometimes, they fail. INEOS is finding a difficult time when trying to
implement sustainable practices in its operations.
Alternative practices
In this section I will be discussing some alternative practices that INEOS can
adopt to be more sustainable using examples from other developed
countries.
Waste Prevention
Waste Minimization
Metals, glass, paper, plastics, and wood are just some of the valuable
elements that may be systematically extracted from waste streams and used
via recycling (Murphy, 2006). Reusing and recycling materials lessens the
need for virgin resources needed to accomplish the same tasks. Lessening
the need to deplete natural resources for raw materials, recycling allows for
the recovery of waste materials and their transformation into valuable
resources. Prompt recycling of waste materials protects natural resources,
lessens emissions and energy consumption during raw material extraction
and final product production, lowers overall energy usage and greenhouse
gas emissions that exacerbate climate change, and decreases the number of
recycled materials that end up in landfills or incinerators (Munjar, 2022).
Among recycling's several beneficial economic effects are the creation of
jobs and an increase in gross domestic product (GDP).
Materials such as wood, paper, metal, aluminum, steel, and plastic are often
recycled. Masonry, asphalt, concrete, and reinforcing steel are just a few of
the many building components that may go through recycling procedures.
Quickly collecting and using the residues of "green" plants to make mulch or
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Success stories of recycling and reusing materials pop up all the time. In
certain cases, raw materials go through extensive processing to create
finished goods, with recycled resources serving as an input (Yadav et
al.,2020). Reusing paper to make new paper and aluminum cans to make
new metal items are two examples of recycling. There are instances where
recycled materials are used without going through extensive or substantial
processing.
The use of wood chips made from recycled wood or the incorporation of
bricks and other building materials into newly constructed buildings are two
common examples (Munjar, 2022). Marketplaces that are able to operate
and public acceptance of recycled products and their promotion are crucial
for recycling to be successful. Important considerations also include the
effective sorting and processing of recyclables and the wide range of uses for
recycled materials.
Biological Treatment
Incineration
Landfill Disposal
INEOS has a very large market share in the UK and most European nations
but it should invest more in environmentally friendly methods of disposing
chemical waste. Sustainable practices should be done not to include only
INEOS and its stakeholders but also the community around it.
Conclusion
References
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Horodytska, O., Valdés, F.J. and Fullana, A., 2018. Plastic flexible films waste
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Routledge.
Esmaeili, A., Khoram, M.R., Gholami, M. and Eslami, H., 2020. Pistachio waste
management using combined composting-vermicomposting technique:
Physico-chemical changes and worm growth analysis. Journal of Cleaner
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Snyder, K.L., Hoogkamer, W., Triska, C., Taboga, P., Arellano, C.J. and Kram,
R., 2021. Effects of course design (curves and elevation undulations) on
marathon running performance: a comparison of Breaking 2 in Monza and
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Niederschulte, M., Russell, K. and Connors, K., 2016. DOE-INES New Planet
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Yadav, K., Mandal, M.K., Pal, S., Chaudhuri, H. and Dubey, K.K., 2020.
Bioeconomy of municipal solid waste (MSW) using gas fermentation.
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Elsevier.
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